(Updates with agreement value in the last paragraph.)

Teva Pharmaceutical Industries (TEVA) has entered into an agreement with Samsung Bioepis for the global licensing, development, and commercialization of up to six potential biosimilar candidates, the companies said Thursday.

Under the deal, South Korea's Samsung Bioepis will manage the development, regulatory registration, and making of the biosimilars. Meanwhile, Teva will be in charge of commercialization in global markets, including the US, Europe, and Canada, with an option to expand to other territories, they said.

The companies have confirmed two investigational biosimilar candidates, SB41, referencing Fasenra, and SB44, referencing Ilaris, the companies added.

Samsung Bioepis said the parties agreed to keep the total value of the contract confidential, with the deal amount equal to or exceeding the lesser of 2.5% of Samsung Bioepis' 2025 equity or revenue